Investor PM: Economic news ignites Wall Street

Summary:A double dose of positive economic news inspired investors Thursday as the Dow Jones industrial average stormed up 228 points to 10,622.53 while the tech-laden Nasdaq composite rose 73 points to finish at 2,875.

A double dose of positive economic news inspired investors Thursday as the Dow Jones industrial average stormed up 228 points to 10,622.53 while the tech-laden Nasdaq composite rose 73 points to finish at 2,875.44. Concerns over possible interest-rate hikes were put on hold after the U.S. Bureau of Labor Statistics said the Employment Cost Index rose 0.8 percent last month. Economists polled by Reuters expected the ECI to rise by 0.9 percent. Third-quarter Gross Domestic Product growth came in at 4.8 percent, compared to an expected rise of 4.7 percent. Full story. -- Larry Barrett, ZDII

Topics: Tech Industry

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